Voltalia SA (FR:VLTSA)
:VLTSA
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Voltalia
(VLTSA)
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Rating:41Neutral
Price Target:
€6.50
▼(-7.41% Downside)
Action:ReiteratedDate:03/13/26
The score is held down primarily by weakened financial performance (wider losses, higher leverage, and persistent negative free cash flow). Technicals also remain soft with price below major moving averages and negative MACD. The earnings call adds some longer-term upside via the SPRING transformation plan, but near-term guidance and commentary point to continued profitability pressure, limiting the overall score.
Positive Factors
Integrated business model
Voltalia's full‑lifecycle model—development, EPC, ownership and O&M—creates multiple durable revenue streams: contracted generation cashflows plus project and recurring services fees. This vertical integration helps capture value across project stages and smooths revenue cyclicality over years.
Negative Factors
Worsening profitability
A sharp deterioration in net margins and widening losses erode retained earnings and limit internal funding capacity. Persistent weak profitability increases dependency on external financing and heightens execution risk for growth plans, especially if curtailment and project costs persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated business model
Voltalia's full‑lifecycle model—development, EPC, ownership and O&M—creates multiple durable revenue streams: contracted generation cashflows plus project and recurring services fees. This vertical integration helps capture value across project stages and smooths revenue cyclicality over years.
Read all positive factors
Voltalia (VLTSA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€920.71M
Dividend YieldN/A
Average Volume (3M)105.11K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth1.76%
EPS Growth-234.79%
CountryFR
Employees2,030
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.67
Shares Outstanding131,318,710
10 Day Avg. Volume83,079
30 Day Avg. Volume105,108
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.07
Price to Sales (P/S)1.74
P/FCF Ratio-3.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€9.00Price Target Upside28.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.07
Revenue Forecast (FY)€610.25M
Voltalia Business Overview & Revenue Model
Company Description
Voltalia SA engages in the production of electricity from renewable energy sources. It operates through two segments, Energy Sales and Services. The company develops, constructs, operates, and maintains wind, solar, hydro, and biomass power plants...
How the Company Makes Money
Voltalia makes money through two main avenues: (1) electricity generation from assets it owns/operates and (2) services delivered to third parties. For generation, it earns revenue by selling the electricity produced by its renewable plants, typic...
Voltalia Earnings Call Summary
Earnings Call Date:Sep 04, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 30, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted Voltalia's strategic transformation plan aimed at self-financed growth and increasing capacity, alongside maintaining a strong cash position. However, the company is facing profitability pressures with reported losses, challenges with curtailment, and negative EBITDA from service activities. Despite future objectives being set, the expectation of further losses in the second half of 2025 presents a challenging outlook.Positive Updates
Capacity and Production Growth
Voltalia reported an increase in capacity in operation and construction to 3.3 gigawatts, a 7% rise from last year, with production growing by 14% to reach 2.4 terawatt-hours.
Negative Updates
Profitability Pressure and Loss
Voltalia reported a loss of EUR 40 million for the half year, with EBITDA remaining stable at EUR 78 million. Profitability remains under pressure with significant noncurrent expenses and financial results decreasing by 7%.
Read all updates
Q2-2025 Updates
Positive
Negative
Capacity and Production Growth
Voltalia reported an increase in capacity in operation and construction to 3.3 gigawatts, a 7% rise from last year, with production growing by 14% to reach 2.4 terawatt-hours.
Read all positive updates
Company Guidance
During the call, Voltalia provided guidance for its 2025 fiscal year, outlining several key metrics and strategic initiatives. The company reported a 7% increase in capacity, totaling 3.3 gigawatts, and an 8% rise in turnover to EUR 257 million, although EBITDA remained stable at EUR 78 million, resulting in a loss of EUR 40 million. Voltalia is embarking on a 5-year strategic plan called SPRING, aiming for self-financed growth of 300 to 400 megawatts annually until 2030. The plan focuses on improving profitability, with an EBITDA target of EUR 200 million to EUR 220 million by year-end 2025. The company plans to concentrate on core geographies and technologies, such as solar, onshore wind, and storage, while exiting noncore activities. Additionally, Voltalia aims to streamline operations to achieve an EBITDA margin of 70-72% in energy sales and 9-11% in services by 2030, with a net debt-to-EBITDA ratio target of 7.5x to 8x by the same year. The company also anticipates resuming dividend payments in 2028.Voltalia Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
35
Negative
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 588.00M | 547.00M | 495.18M | 465.94M | 358.67M |
| Gross Profit | 244.00M | 490.00M | 424.18M | 96.59M | 78.77M |
| EBITDA | 165.00M | 235.00M | 249.00M | 153.56M | 129.61M |
| Net Income | -128.00M | -21.00M | 29.63M | -7.17M | -1.32M |
Balance Sheet | |||||
| Total Assets | 4.19B | 3.96B | 3.82B | 3.04B | 2.11B |
| Cash, Cash Equivalents and Short-Term Investments | 315.00M | 391.00M | 318.55M | 383.56M | 302.20M |
| Total Debt | 2.49B | 2.26B | 1.86B | 1.31B | 1.03B |
| Total Liabilities | 3.13B | 2.79B | 2.43B | 1.70B | 1.38B |
| Stockholders Equity | 954.00M | 1.06B | 1.26B | 1.23B | 671.80M |
Cash Flow | |||||
| Free Cash Flow | -264.00M | -338.00M | -578.68M | -557.34M | -306.09M |
| Operating Cash Flow | 51.00M | 179.00M | 115.50M | -13.93M | 100.21M |
| Investing Cash Flow | -458.00M | -440.00M | -682.11M | -536.39M | -300.56M |
| Financing Cash Flow | 374.00M | 329.00M | 495.63M | 614.22M | 268.13M |
Voltalia Technical Analysis
Neutral
7.02
Price Trends
6.95
Positive
7.13
Negative
7.33
Negative
Market Momentum
-0.02
Negative
56.50
Neutral
82.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VLTSA, the sentiment is Neutral. The current price of 7.02 is above the 20-day moving average (MA) of 6.72, above the 50-day MA of 6.95, and below the 200-day MA of 7.33, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 56.50 is Neutral, neither overbought nor oversold. The STOCH value of 82.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:VLTSA.
Voltalia Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | €1.53B | 8.39 | ― | 6.15% | -12.83% | 10.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €55.28M | -8.93 | -14.33% | ― | 257.28% | -21.96% | |
43 Neutral | €119.71M | -1.85 | ― | ― | 209.99% | -16.49% | |
41 Neutral | €920.71M | -7.99 | -3.36% | ― | 1.76% | -234.79% |
* General Sector Average
FR:VLTSA
Voltalia
7.02
0.67
10.52%
FR:HDF
Hydrogene de France
3.76
-1.13
-23.11%
FR:MLCMG
CMG CleanTech SA
0.22
-0.86
-79.63%
FR:MLBSP
Blue Shark Power System SA
3.30
-3.55
-51.82%
FR:ELEC
Electricite de Strasbourg SA
214.00
89.51
71.90%
FR:LHYFE
Lhyfe SA
2.49
-0.51
-17.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.